The SMT Equipment market size was valued at US$ 6.38 billion in 2023 and is expected to reach US$ 10.19 billion by 2031. It is estimated to record a CAGR of 6.0% from 2023 to 2031.
The SMT Equipment market is segmented into five major regions - North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2023, followed by North America and Europe, respectively.
Future electronic device development is expected to be strongly influenced by through-silicon-via technology, a type of vertical interconnect access (VIA) connection used in IC packaging to provide vertical electrical connections between silicon wafers or dies. TSV technology establishes electrical contact with surface-mounted devices while mirrored sidewalls enhance package reflectivity and improve light efficiency.
The Asia Pacific SMT equipment market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The SMT equipment market in Asia is expected to grow significantly, driven by the rising demand for printed circuit board assemblies (PCBA) in various industries, including automotive, consumer electronics, and aerospace. Various global players are expanding in Asia Pacific to provide SMT equipment to meet the demands of these growing industries and provide cutting-edge technology, solutions, and experience.
For example, in April 2024, Essemtec AG expanded its network of demo centers in Asia to meet the growing demand for SMT equipment. Essemtec and its partners operate six demo centers in Asia, with a seventh center slated to open in Q3 2024. The establishment of these demo centers is part of Essemtec's strategic collaboration with its partners, a partnership designed to amplify Essemtec's reach and deliver advanced solutions to a wider customer base. The current demo centers are in Lumpur, Bangkok, Pune, Shenzhen, and Shanghai (2 centers).
Based on component, the market is divided into passive component and active component. Passive component held considerable SMT equipment market share 2023. A resistor is an electrical device that resists the flow of electric current. SMT resistors typically have resistance values ranging from 1 ohm to several megaohms. SMT resistors are classified into several types, and each SMT type is used for a specific application. For example, highly precise and stable thin-film resistors are ideal for use in precision applications such as instrumentation. They are commonly available in resistance values ranging from 1 ohm to 3 megaohms, with tolerance levels as low as 0.01%. Thick film resistors are commonly used as less-expensive resistors where precision is not required.
Hitachi High-Tech Corp, Juki Corporation, ASMPT Ltd, Yamaha Motor Co Ltd, Nordson Corp, KLA Corp, Viscom AG, Fuji Corporation, Saki Corporation, and Mycronic are among the key SMT Equipment market players that are profiled in this market study.
The overall SMT Equipment market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the SMT Equipment market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the SMT Equipment market.
The SMT Equipment market is segmented into five major regions - North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2023, followed by North America and Europe, respectively.
Future electronic device development is expected to be strongly influenced by through-silicon-via technology, a type of vertical interconnect access (VIA) connection used in IC packaging to provide vertical electrical connections between silicon wafers or dies. TSV technology establishes electrical contact with surface-mounted devices while mirrored sidewalls enhance package reflectivity and improve light efficiency.
The Asia Pacific SMT equipment market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The SMT equipment market in Asia is expected to grow significantly, driven by the rising demand for printed circuit board assemblies (PCBA) in various industries, including automotive, consumer electronics, and aerospace. Various global players are expanding in Asia Pacific to provide SMT equipment to meet the demands of these growing industries and provide cutting-edge technology, solutions, and experience.
For example, in April 2024, Essemtec AG expanded its network of demo centers in Asia to meet the growing demand for SMT equipment. Essemtec and its partners operate six demo centers in Asia, with a seventh center slated to open in Q3 2024. The establishment of these demo centers is part of Essemtec's strategic collaboration with its partners, a partnership designed to amplify Essemtec's reach and deliver advanced solutions to a wider customer base. The current demo centers are in Lumpur, Bangkok, Pune, Shenzhen, and Shanghai (2 centers).
Based on component, the market is divided into passive component and active component. Passive component held considerable SMT equipment market share 2023. A resistor is an electrical device that resists the flow of electric current. SMT resistors typically have resistance values ranging from 1 ohm to several megaohms. SMT resistors are classified into several types, and each SMT type is used for a specific application. For example, highly precise and stable thin-film resistors are ideal for use in precision applications such as instrumentation. They are commonly available in resistance values ranging from 1 ohm to 3 megaohms, with tolerance levels as low as 0.01%. Thick film resistors are commonly used as less-expensive resistors where precision is not required.
Hitachi High-Tech Corp, Juki Corporation, ASMPT Ltd, Yamaha Motor Co Ltd, Nordson Corp, KLA Corp, Viscom AG, Fuji Corporation, Saki Corporation, and Mycronic are among the key SMT Equipment market players that are profiled in this market study.
The overall SMT Equipment market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the SMT Equipment market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the SMT Equipment market.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the SMT equipment market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations such as specific country and segmental insight highlights crucial progressive industry trends in the SMT equipment market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. SMT Equipment Market Landscape
5. SMT Equipment Market - Key Market Dynamics
6. SMT Equipment Market - Global Market Analysis
7. SMT Equipment Market Analysis - by Component
8. SMT Equipment Market Analysis - by Equipment Type
9. SMT Equipment Market Analysis - by End User
10. SMT Equipment Market - Geographical Analysis
11. Competitive Landscape
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- Hitachi High-Tech Corp
- ASMPT Ltd
- Yamaha Motor Co Ltd
- Nordson Corp
- KLA Corp
- Viscom AG
- FUJI CORPORATION
- SAKI CORPORATION
- Mycronic
- JUKI CORPORATION
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 180 |
| Published | July 2024 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value in 2023 | 6.38 Billion |
| Forecasted Market Value by 2031 | 10.19 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
